Most of the economists surveyed by the Wall Street Journal think unemployment will get even worse and peak at over 5 percent.
An unemployment rate that high would mean several million Americans losing their jobs.
Meanwhile, a review of 2023 market outlook reports from ten major investment banks by SMB Law Group shows that the majority are leaning pessimistic, with one of them (Barclays) predicting that this year “will be a long, hard slog”.
The IMF said in its report that it expects more economic pain. “More than a third of the global economy will contract this year or next, while the three largest economies—the United States, the European Union, and China—will continue to stall. In short, the worst is yet to come.”
5%? Not a Depression then.
The rate peaked at 25.6% during the Great Depression in May 1933.
Still, the outlook is bad.
I think they’re underestimating it.
I’m no financial whiz, but if you combine that rise of unemployment with the tsunami of illegal immigration we’re being flooded with, burdening the welfare state even further, the result can be nothing but disaster.
And add the possibility of one or more serous foreign wars – in addition to what’s happening in Ukraine – and it’s a perfect storm.
Let Covid mutate once more, let a policeman shoot a Black person in anything other than completely defensible circumstances – or even in completely defensible circumstances – add in another mass shooting by a lunatic which the MSM can tie to ‘the Right’ …
but … our side must remain calm. The enemy will be doing everything he can to provoke some of us into doing something technically, if not morally, illegal.
So … go to https://YCPT.org to see how to ‘prepare’, both individually and in a group. (Use a burner email though, as their security consciousness is not great and your email address may be ‘CC’d’ (not ‘BCC’d’) to everyone else from time to time.) Nonetheless they’ve got the right approach: legal and peaceful.
The November mid-terms showed us our main task: patiently explaining to the broad middle that the Hard Left are driving the Soft Left in charge of the Democratic Party.
Until the majority, ideally the great majority, of Americans understand that the Left is destroying America, including its military, … until then, we have to resist being provoked into doing something stupid (like 6 January).
